Credit scores are always brought up in all financially related topics, and this is for a good reason. But more than determining the loans you are qualified for and how much your interest rate payments will be, your credit score can do so much more than these. Insurers refer to credit scores when setting premiums for coverage for home and car owners. Landlords also use credit scores to identify the right tenants for their properties. Credit scores also help identify the best candidates for phone plans and who are required to put down bigger deposits for utilities. To put it simply, your credit ..read more

While the performance of students is reflected on report cards, adults are often gauged based on their credit. Since it speaks so much about you as a person, it only makes sense that you want your credit to pass with flying colors, so to speak. Unfortunately, there are times when trying to repair your credit may seem futile. Before you panic and seek help from a credit report company in the hopes of restoring your credit, try to stop first and give it some careful thinking. Here are a few signs that you will be better off giving up on repairing credit: Your Finances are in Havoc Let’s say you ..read more

Whether you want to buy or lease a car or rent a property, credit checks are often necessary to determine your eligibility. The same thing goes with a home purchase. You need a credit score to purchase a home or at least increase your chances of being qualified. Your FICO score not only determines if you are qualified for a mortgage or not but it also affects your loan terms. Although there is no such thing as a single ideal credit score to purchase a home, you still need to understand the effect of your credit score on your home-buying process. Effects of Your Credit Score on Buying a Home Mo ..read more

With 2023 just around the corner, the last thing you want is to be engulfed in financial misinformation yet again. Unfortunately, incorrect financial information has become more rampant than ever, affecting the credit score of millions of people across the globe. Free yourself from all these misconceptions and learn the truth about credit myths and tips for 2023: 1st Myth: Credit Checks Don’t Affect Credit Score Many people seem to be unaware that their credit score can go down every time a lender runs a credit check. A soft inquiry and a hard inquiry are the two main types of credit checks. A ..read more

Health is wealth but medical debt can leave a serious dent in your finances. Unfortunately, medical debt has been one of the major causes of bankruptcies. This is why it is important to learn how to avoid paying medical debt and manage your existing one. Staying away from medical bills is your first and most important line of defense. The second one is to arm yourself with sufficient knowledge and information. Below are a few ideas to help you get started: When in Doubt, Ask Before anything else, you should always be a discerning and active consumer to prevent unnecessary and high medical cost ..read more

Credit cards have made people’s lives easier and more convenient than before.  A lot of day-to-day transaction-based activities are even difficult or impossible if you don’t have a credit card. But despite their usefulness and handiness, credit cards also get a bad rap. This is why you have to brush up on your financial literacy and have a proper understanding of the benefits and drawbacks of plastic. Below are some of the common reasons why having credit cards is a terrible idea: Credit Cards Come with Annual Fees Most credit cards today have annual fees. People often forget about it, no ..read more

Your loan payments are all time and you are confident that you are responsible for managing your credit. You even take time to find mistakes on your credit report every year to ensure that your score doesn’t take a dive. However, despite all that hard work you put into it, your credit still suffers for reasons that aren’t even your fault in the first place. Some forms of credit inquiries can affect your credit score and one made without your approval is even more worrisome. If you are lucky, this could have been because you signed up for a certain service not knowing that a credit approval is ..read more

Being deployed means you need to check a lot of things off your to-do list to ensure that nothing goes amiss while you are away. Due to the emotional and mental effects of this stage in your life, the last thing you want is to worry about your credit. To save you from the headaches and worries, here are some tips on how to protect your credit while in the military: Put an Active Duty Alert on All Credit Reports Similar to a fraud alert, an active duty alert is a notice on all your credit reports that will encourage lenders to be extra wary before they approve credit under your name. Creditors ..read more

Car loans are handy financial tools perfect for buyers who prefer paying for their car purchase gradually. Rather than an upfront expense worth tens of thousands of dollars just to buy a car, financing gives people the chance to pay back the amount they owe over time. However, since car loans mean you will borrow a hefty sum of money that you need to pay back in a span of several years, you might be wondering about its impact on your credit. Continue reading to know how a car loan can increase your credit: Will Getting a Car Loan Affect Your Credit Score? Every time you shop around for the bes ..read more

Every timely payment you make counts if your ultimate goal is to build your credit. Your monthly rental payments might be one of your biggest expenses every month. But does renting build your credit in the first place? A short and simple answer is not necessarily. Although making timely rental payments might be able to help build your credit, this isn’t necessarily automatic. Read on below to know more about rental payments and their effect on your credit score. Will Your Rent Payment Affect Your Credit Score? While you can use your credit card to pay your rent, it will only affect your score ..read more